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INCOME TAX ASSESSMENT AMENDMENT BILL (NO. 4) 1983
INCOME TAX (RATES) AMENDMENT BILL (NO. 2) 1983
INCOME TAX (INDIVIDUALS) BILL 1983
INCOME TAX (COMPANIES, CORPORATE UNIT TRUSTS AND SUPERANNUATION FUNDS) BILL 1983
INCOME TAX (BEARER DEBENTURES) AMENDMENT BILL 1983

Order of the Day read for the adjourned debate on the motion of the Minister for Veterans' Affairs (Senator Gietzelt)-That these Bills be now read a second time.

Debate ensued.

Senator Jack Evans moved an amendment, viz: At end of motion, add '', but the Senate is of the opinion that the abolition of the rebate on up to $1000 of dividend income of individual taxpayers will remove an inducement to middle income Australians to invest in Australian corporations which assisted in restoring corporate ownership of Australian companies into the hands of the Australian people''.

Debate continued.

Question-That the words proposed to be added be added-put and passed.

Main Question, as amended-put and passed.

Bills read a second time.

The Senate, according to Order, resolved itself into Committee for the consideration of the Bills.

In the Committee

Bills, by leave, taken as a whole and debated.

The Minister for Resources and Energy (Senator Walsh), by leave, moved the following amendments together in relation to the Income Tax Assessment Amendment Bill (No. 4) 1983:

Page 2, clause 4, lines 9 to 27, leave out the clause, insert the following clause:

Exemptions ''4. (1) Section 23 of the Principal Act is amended- (a) by inserting after paragraph (kb) the following paragraph: '(kba) payments by way of an open employment incentive bonus under Part VIIIA of the Handicapped Persons Assistance Act 1974;';

(b) by inserting in paragraph (s) 'one-half of' before 'the pay and allowances';

(c) by inserting in paragraph (sa) 'one-half of' before 'the pay and allowances'; and

(d) by inserting in paragraph (sa) 'one-half of' before 'any gratuity'.

(2) The amendment made by paragraph (1) (a) applies to payments made on or after 1 October 1983.

(3) The amendments made by paragraphs (1) (b), (c) and (d) apply to pay and allowances in respect of service, and a gratuity in respect of a calling out, on or after 1 December 1983.''.

Page 9, clause 19, sub-clause (1), line 36, leave out ''a first instalment'', insert ''no prescribed''.

Question-That the amendments be agreed to-put and passed.

Bills further debated and agreed to.

Income Tax Assessment Amendment Bill (No. 4) 1983 to be reported with amendments.

Income Tax (Rates) Amendment Bill (No. 2) 1983; Income Tax (Individuals) Bill 1983; Income Tax (Companies, Corporate Unit Trusts and Superannuation Funds) Bill 1983; and Income Tax (Bearer Debentures) Amendment Bill 1983 to be reported without amendment or requests.

The Acting Deputy-President (Senator Lewis) resumed the Chair; and the Chairman of Committees (Senator Hamer) reported accordingly.

On the motion of Senator Walsh the Report from the Committee was adopted, and the Bills read a third time.